Manor hopes ended after F1 entry is withdrawn

Attempts to save Manor Racing have effectively been ended by the withdrawal of the team's Formula 1 entry.

The team collapsed in January following a period of administration for its operating company, Just Racing Services Limited. However, the company that owned the team entry – Manor Grand Prix Racing Ltd – was not in administration, with negotiations continuing with potential new owners in an attempt to revive the team.

RACER understands such talks were still taking place as recently as Tuesday, with a source close to the team describing the situation as "a number of spinning plates that all need to drop" in order to facilitate a deal. Meetings had been taking place right up until the end of February, with interested parties still hopeful of retaining Manor's place on the grid.

The plan had still been to get the team to the season-opening Australian Grand Prix despite missing pre-season testing, with potential new owners having been advised against skipping any of the opening races.

However, on Wednesday it was confirmed that Manor team owner Stephen Fitzpatrick has withdrawn the team's entry, with an official announcement of the entry list expected from the FIA later in the afternoon.

The source close to the team said Fitzpatrick's withdrawal of the entry – understood to have been made in an attempt to recoup the entry fee – was akin to "turning the lights off on the spinning plates" and "likely to be the straw that breaks the camel's back" for potential saviors of the the team.